Equinix Announces $500 Mln Share Buyback

(RTTNews) - Equinix , Inc. (EQIX), the global interconnection and data center company, announced that its Board of Directors has authorized a share repurchase program of up to $500 million through December 31, 2014.

The company said the share repurchases may be made by the company from time to time in open market transactions at prevailing market prices or in privately negotiated transactions.

Equinix said the actual timing, number and value of shares repurchased under the program will be determined by management at its discretion, and will depend on a number of factors, including the trading price of the stock, compliance with the terms of our outstanding indebtedness, general market and business conditions and applicable legal requirements.

The company stated it has no obligation to repurchase any shares under the authorization, and the repurchase program may be suspended, discontinued or modified at any time, for any reason and without notice.